For the purposes of this Regulation the following definitions apply:

(a) "indirect client" means the client of a client of a clearing member;

(b) "indirect clearing arrangement" means the set of contractual relationships between providers and recipients of indirect clearing services provided by a client, an indirect client or a second indirect client;

(c) "confirmation" means the documentation of the agreement of the counterparties to all the terms of an over the counter (OTC) derivative contract;

(d) "second indirect client" means a client of an indirect client;

(e) "third indirect client" means a client of a second indirect client.